During FlipMyFunnel’s Virtual Engagement Bootcamp, CEO and co-founder here at Triblio, Andre Yee, presented about getting started with ABM and three typical patterns for ABM deployment that we have seen.
- Account-based tactics for a leads-based funnel
- ABM program “carve-out”
- Account-based demand generation
We have talked about account-based tactics for a leads-based funnel (link), the starting place for many marketers because it is simply applying account-based marketing tactics to the top of an existing funnel. We’ve also discussed the ABM program “carve-out,” which works with an alternative funnel for a subset of target accounts (link).
The final approach is account-based demand generation. We expect this approach to take shape and become more common as marketers and companies become more comfortable with ABM. As organizations get accustomed to ABM, they will begin looking at impacting not just the top of the funnel with tactics, but using ABM in a broader way on the entire demand funnel.
With this final approach, an account-based funnel is the primary demand generation funnel for marketers. This means an account-based approach to thousands of accounts, represented by half a dozen account segments.
So it’s a full funnel approach. From defining your target accounts to closing business at the bottom of the pipeline. It’s also multi-channel. If we really believe that the buyer is and should be in control of the buyer journey, then executing ABM across all the buyer’s relevant channels (email, web, ads, events, direct mail) with a consistent message is a must. Reaching out on all channels also means equipping your sales team to engage with customers with the relevant messaging that has been reaching them through marketing channels.
As an example, our customer Plex, now really a leading voice amongst practitioners of account-based demand generation, followed this full funnel approach. They implemented web personalization by geo-location and manufacturing sub-segments and applied display ads and retargeting ads to drive awareness at the top of the funnel and account engagement further down the funnel. They increased conversion rates from inquiry-to-MQL from 5% to 14%.
This final approach addresses a few of the drawbacks we have seen in the first two, more tactical, approaches.
- With this all-in approach of an entirely new demand funnel, marketers will achieve the highest impact.
- The all-in mentality also comes with more corporate buy-in and support, which also means more accountability.
- By applying ABM to the every step of the funnel, marketers will see improvements across the board from higher lead quality to increased pipeline velocity.
- By introducing new metrics for a new funnel, marketers have to take the time to educate their organization. Fortunately, there are an increasing amount of industry voices that can provide that education and support. So we see this drawback as a temporary one while the industry is catching up.
If you’re interested in getting started with ABM, but you don’t know where to start, take an ABM briefing today! We want to help you discover what tactics and approaches for getting ABM running are the right fit for your organization.